Published 15:46 IST, November 27th 2019
Manchester City become world's highest valued football club with new US investor on board
Premier League champions Manchester City have become the most valuable club in the world. The club has sold 10% of its stake to a US-based investor Silver Lake.
Premier League champions Manchester City have become the most valuable football club in the world. It is reported that a US-based firm has decided to buy a 10% stake in the club. The owners of Manchester City have agreed to sell their shares worth £389 million to an American venture capital firm, Silver Lake.
City Football Group comprises of seven clubs
The City Football Group (CFG) comprises of the Premier League champions and six satellite clubs around the world. It is valued at $3.74 billion presently, and have witnessed a significant increase in the most recent estimates of its value. Silver Lake will invest $500 million into the City Football Group, which would increase the company’s valuation to $4.8 billion. This deal means that the City Football Group are at the top of the global rich list ahead of the likes of Real Madrid, Barcelona and Manchester United.
CFG chairman Khaldoon Al Mubarak and Silver Lake managing partner Egon Durban have signed the deal on Saturday, November 23, 2019 according to media reports. Sheikh Mansour bin Zayed Al Nahyan, a member of the Abu Dhabi Royal Family, had bought Manchester City in 2008. The club have spent a lot of money to buy players since the arrival of Pep Guardiola. The club have been investing in order to turn the club into a team capable of winning the Champions League.
City Football Group owns shares in several clubs across different continents. The teams include Yokohama Marinos from Japan, Club Atletico Torque from Uruguay, Girona from Spain, New York City FC and Melbourne City Football Club, as well as Manchester City. The group had also bought Sichuan Jiuniu FC in China League Two in February 2019.
Updated 16:32 IST, November 27th 2019